21405 Parks Mill Rd Abingdon, VA 24211
This exceptional 7.06-acre property in Abingdon, Virginia, presents a unique investment opportunity. The Cascades at Parks Mill, established in 1780, boasts four distinct structures: a historic grist mill (partially operational), a modern bungalow (used as bridal suite and vacation rental), a 1,000 sq ft gathering lodge with expansive decks, and a handicapped-accessible bathhouse. The property features a man-made waterfall, paved pathways, multiple outdoor seating areas, and fire pits, creating a stunning visual landscape. The main mill building retains much of its original equipment and features open areas on multiple floors, along with a finished first-floor lounge. An adjacent parking area, currently leased until 2025, provides additional capacity. The property's 6,730 square feet are currently utilized as a wedding venue, but its versatile design and historic charm lend themselves to various uses, including but not limited to: distillery, brewery, winery, cidery, country store, vacation rentals, or a heritage tourism destination. The asking price is $824,000, with a price per square foot of $122.44. Built in 2004, the property offers a blend of historical significance and modern functionality, making it an attractive investment in the picturesque Washington County.
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Cascades at Parks Mill Hotel & Motel Resort
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
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